Page 32 - 2022 White Paper on the Business Environment in China
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2 White Paper on the Business Environment in China
Botswana, Zimbabwe, Mozambique, Lesotho, on carrying out infrastructure projects as soon
Eswatini, Zambia, and Malawi, except for cargo as possible. But the low labor participation
planes. All arrivals had to present a certificate of willingness may lead to the rising cost of labor as
completion of the vaccination or a vaccination the demand for workers rises. With inflation high
pass. This decision involves all non-resident in many major economies, including Germany,
passengers over the age of 18. Meanwhile, Argentina and Turkey, the global economy is facing
US President Joe Biden announced that his great risks, and it is China and the US at the center
country would impose travel restrictions on of the global economic system that are acting
eight African countries including South Africa, as stabilizers. The Fed influences global liquidity
Botswana, Zimbabwe, Namibia, Lesotho, Eswatini, and China dominates commodity markets, and
Mozambique and Malawi as the new coronavirus if tightening in the US coincides with a slowdown
variant was detected on the continent. Except for in China, it could leave the global economy
this "precautionary" measure, Biden again urged untenable. China faces the challenge that the rise
Americans and people around the world to get in commodity and energy prices may impact its
vaccinated against the virus. Australia and Japan manufacturing and affect the healthy development
were also among the nations to either halt flights of the Chinese economy. That's why commodity
to the region or announce mandatory quarantines prices such as iron ore began to fall back after
and screenings. The World Health Organization Chinese investment slowed in the second half of
(WHO) said there was preliminary evidence that 2021. Omicron's drag on energy and commodity
the variant, which it named Omicron after the prices could help China avoid a further upstream
Greek letter, was more transmissible than the price increase as it increases investment. However,
Delta variant that is currently dominant world- China must be aware of the possible impact on its
wide, and other virus strains. Yet, Belgium, Israel exports in the future. The US is likely to become
and Botswana also detected first cases of the the economy most affected by Omicron because
new variant. Omicron’s discovery highlighted the its inflation structure is so complex that its policy
continued threat posed by an evolving virus to dilemmas are exacerbated. In a nutshell, Omicron
the world's emergence from the pandemic. The complicates the global economic situation and will
WHO labeled Omicron a "variant of concern," continue to delay the global economic recovery.
a designation given to variants like Delta that This may be beyond the capacity of the global
require close scrutiny from public health officials. economic system. China and the US have sufficient
Moderna, BioNTech-Pfizer and Johnson & Johnson policy resources and market space to maneuver,
all announced they're testing how well their but many other countries may be at risk, especially
vaccines protect against Omicron. Merck said in in terms of debt and currencies. In 2022, China's
a final analysis of a clinical trial, its antiviral pill economy may face greater external pressure. It
reduced the risk of hospitalization and death should stick to the new development paradigm,
among high-risk COVID-19 patients by 30%, down become more careful in dealing with the current
from an earlier estimate of 50%. The pandemic challenges, and make necessary deployments in
is far from over, and after nearly two years and advance (CD, Another Blow).
more than 775,000 deaths, many Americans were
traumatized and on edge (Xinhua and CD). The ongoing spread of the new Omicron
variant of the novel coronavirus worldwide
The appearance of Omicron has shaken the and the rising number of infections should be
financial and energy markets, and is another blow a reminder of the truth that no country is safe
for the already struggling world economy. With until all countries are safe. It should also serve
the tightening of the United States' monetary as a new clarion call for countries to close the
policy and the slowing down of the growth of gap in the distribution of vaccines between the
the Chinese economy, Omicron will add more developed and developing countries. Scientists
uncertainties to the global economy. If Omicron have long warned that poor countries with low
seriously impacts the economy, the US won't vaccine coverage could become "a breeding
have much space for monetary policy to stimulate ground" for new COVID-19 variants. This is
growth any more, and it can only pin its hopes because the more the novel coronavirus spreads
32
Botswana, Zimbabwe, Mozambique, Lesotho, on carrying out infrastructure projects as soon
Eswatini, Zambia, and Malawi, except for cargo as possible. But the low labor participation
planes. All arrivals had to present a certificate of willingness may lead to the rising cost of labor as
completion of the vaccination or a vaccination the demand for workers rises. With inflation high
pass. This decision involves all non-resident in many major economies, including Germany,
passengers over the age of 18. Meanwhile, Argentina and Turkey, the global economy is facing
US President Joe Biden announced that his great risks, and it is China and the US at the center
country would impose travel restrictions on of the global economic system that are acting
eight African countries including South Africa, as stabilizers. The Fed influences global liquidity
Botswana, Zimbabwe, Namibia, Lesotho, Eswatini, and China dominates commodity markets, and
Mozambique and Malawi as the new coronavirus if tightening in the US coincides with a slowdown
variant was detected on the continent. Except for in China, it could leave the global economy
this "precautionary" measure, Biden again urged untenable. China faces the challenge that the rise
Americans and people around the world to get in commodity and energy prices may impact its
vaccinated against the virus. Australia and Japan manufacturing and affect the healthy development
were also among the nations to either halt flights of the Chinese economy. That's why commodity
to the region or announce mandatory quarantines prices such as iron ore began to fall back after
and screenings. The World Health Organization Chinese investment slowed in the second half of
(WHO) said there was preliminary evidence that 2021. Omicron's drag on energy and commodity
the variant, which it named Omicron after the prices could help China avoid a further upstream
Greek letter, was more transmissible than the price increase as it increases investment. However,
Delta variant that is currently dominant world- China must be aware of the possible impact on its
wide, and other virus strains. Yet, Belgium, Israel exports in the future. The US is likely to become
and Botswana also detected first cases of the the economy most affected by Omicron because
new variant. Omicron’s discovery highlighted the its inflation structure is so complex that its policy
continued threat posed by an evolving virus to dilemmas are exacerbated. In a nutshell, Omicron
the world's emergence from the pandemic. The complicates the global economic situation and will
WHO labeled Omicron a "variant of concern," continue to delay the global economic recovery.
a designation given to variants like Delta that This may be beyond the capacity of the global
require close scrutiny from public health officials. economic system. China and the US have sufficient
Moderna, BioNTech-Pfizer and Johnson & Johnson policy resources and market space to maneuver,
all announced they're testing how well their but many other countries may be at risk, especially
vaccines protect against Omicron. Merck said in in terms of debt and currencies. In 2022, China's
a final analysis of a clinical trial, its antiviral pill economy may face greater external pressure. It
reduced the risk of hospitalization and death should stick to the new development paradigm,
among high-risk COVID-19 patients by 30%, down become more careful in dealing with the current
from an earlier estimate of 50%. The pandemic challenges, and make necessary deployments in
is far from over, and after nearly two years and advance (CD, Another Blow).
more than 775,000 deaths, many Americans were
traumatized and on edge (Xinhua and CD). The ongoing spread of the new Omicron
variant of the novel coronavirus worldwide
The appearance of Omicron has shaken the and the rising number of infections should be
financial and energy markets, and is another blow a reminder of the truth that no country is safe
for the already struggling world economy. With until all countries are safe. It should also serve
the tightening of the United States' monetary as a new clarion call for countries to close the
policy and the slowing down of the growth of gap in the distribution of vaccines between the
the Chinese economy, Omicron will add more developed and developing countries. Scientists
uncertainties to the global economy. If Omicron have long warned that poor countries with low
seriously impacts the economy, the US won't vaccine coverage could become "a breeding
have much space for monetary policy to stimulate ground" for new COVID-19 variants. This is
growth any more, and it can only pin its hopes because the more the novel coronavirus spreads
32
